Compliance with Sarbanes-Oxley (401(a)(j)) - Accurately Determining Obligations and Net Liability
Speaker: Jim Booth
Read what AMR said about Fogbreak and Sarbanes Oxley: Sarbanes-Oxley-Making Supply Chain Visibility a High Priority for Executives
The Sarbanes Oxley Act fundamentally changes how companies must control and report on the risks and interaction they have with customers and suppliers. Unfortunately, this comes at a time when companies are collaborating on inventory programs and are forming complex relationships with unclear financial responsibilities.
Specifically, Section 401(a)(j) mandates disclosure requirements of off-balance-sheet transactions and other agreements that may have material effect on the financial performance and statements of a company. To meet these requirements COOs and CFOs are forced to find ways to determine the true “net liability” across a complex, multi-layered supply chain.
Fogbreak Software has developed a suite of applications that integrate agreements terms and obligations with visibility across multiple layers of your supply chain, providing a means to define your true “Net Liability”. Starting with total exposure, inclusive of off-book obligations, while taking into consideration day-to-day demand fulfillment and agreement terms such as flex down, cancellation and return privileges, Fogbreak produces a true picture of your “Net Liability.”
Jim Booth will discuss leading edge strategies and our methodology for addressing the requirements of Sarbanes-Oxley while minimizing the inventory liability and financial risk in the supply chain
From this seminar, attendees will learn:
- The requirements of Sarbanes-Oxley 401(a)(j)
- A process to determine what the true net liability is
- Learn how the Fogbreak tool utilizes your agreement terms and establishes the methodology for quickly and accurately identifying your obligations for financial reporting
- With your agreement data in place, learn how Fogbreak will minimize risk, liability and provide clarity of financial responsibilities within your supply chain
About Jim Booth
Jim has 30 years of manufacturing operations
experience with specific focus on supply chain management
and procurement. Prior to Fogbreak, Jim was CEO and President
of Sapphire Communications, a fab-less semiconductor company.
At Gateway, Jim was Vice President of Global Materials &
Supply Management for the company's consumer and business
desktops, enterprise desktops and workstations, servers, notebooks,
PCs and software, and Internet services organizations. Prior
to Gateway, Jim was Vice President of IBM's worldwide materials,
storage systems and network hardware division, where he managed
all aspects of materials and procurement in the U.S., Southeast
Asia, Eastern and Western Europe and Japan. Prior to joining
IBM, he was Vice President of corporate materials and purchasing
for Quantum Corporation, where he was responsible for the
management and direction of all aspects of materials management
in the U.S., Singapore, Malaysia and Japan. Numerous publications
have recognized Jim as an expert in supply chain management
and for his contributions to the profitability of the companies
where he has worked.
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